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20120901
20120930
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ABC
Sep 16, 2012 7:00am EDT
agency issued a warning to the united states. moody's says if congressional negotiations fail to stabilize america's budget, moody's will lower the debt rating. mark zuckerberg maez made his first appearance at a technology conference. he said facebook was focusing on mobile. the stock price was disappointing, he said. facebook has half of the ipo price. >>> apple introduced iphone 5. it is faster, lighter, thinner and has a small ir dock connector called the lightning rod which not compatible with earlier phones. apple stocks hit highs afterhe announcement. >>> a major move by the fed but what does it mean for your money? who better to answer these questions than pimco officer bill gross. he runs the total return fund. thank you for your time. >> thank you, marie. >> so much to talk about. let me begin with the fed action. $40,000 billion of securities a month to help boost the economy. could the fed have done more? was this throwing everything at the economy in your view? >> i think this is the most significant step since paul promised to break the back o inflation with a 2
ABC
Sep 30, 2012 7:00am EDT
thunited states. >> in the united states we have a different set of worries we are seeing warnings from big american companies about their future earnings. we ended the third quarter and already we heard from fedex, caterpillar, big global companies that are citing europe. caterpillar is citing china, as well. what are you expecting out of the earnings period that we will see in the next couple of weeks? >> there is a slow down in the global economy. off recession in europe and a slowdown in china which is momo significant t than the chinese p numbers suggest. that is rippling to countries lilike korea, iwan and japan. that is affectcting the glal economy. big global companies are hurt by that. more domestically-focused cocompanies in the united state ought to do better. >> what about the fiscal cliff. it doesn't look like anything will happen until after the elections. we have the tax cuts expiring, spending programs expiring. a lot of people think it will lead to a recession in 2013. how do you think this gets resolved, an what subpoena the impact? >> i wish we had better elections in thi
ABC
Sep 9, 2012 7:00am EDT
is ticking in the united states on the fiscal clififf, which you are very, ve concerned about. the expiration of the bush tax cuts, how do you view this playing out, and what are the implications for the market? >> you know, i think it is very important. last week, thee point when the investor attentition really stas to focus on this when it is in europe. so it is a big deal, the fiscal cliff, 4% of gdp, secondly, it would hit at a team when it is the consumer's week of the it represents a big danger to the ecomy, the challenge is it is not discounted into the price. in other words, wewe're all talking about it. i have met verfew investors who believe it will happen. and if we move to an environment where it is likely, it could create volatility in the market. >>> so how do you invest against that kind of back drop? where would you put money to work right now? >> i think there are a couple of things that investors can do. one thing is the people that have the flexibility, right no the options in the market, that islow. youu bu insurance for the portfolio that will hopefully mitigate the impa
ABC
Sep 23, 2012 7:00am EDT
and as i said the united states taxpayer had to step in and backstop those funds with a guarantee. we should never want to see that happen again. >>ow do you avoid that at this point? people have money in money market accounts and they think it is money in the bank. when you say break the buck. explain what that means and what steps have you taken to ensure that won't happen again? >> sure. well, people do assume what you are saying is they put a dollar in a money market fund they will get a dollar back out but it is in fact a portfolio of investment securities and they fluctuate in value. so the $1 stable net asset value as we call it is a bit of a fiction. the money market fund may be worth more or less than that at any given moment as the portfolio securities fluctuate. >> mary, there have been so many events to ruin investor confidence. you can look at the flash crash of2010, the software glitch in august. are toward safe? do you have the regulations and personnel to keep them safe? >> i think towainvestos tors are in our market. you think of the flash crash wesh immediately calle
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